EURO CLEARING
LCR COLLECTION
Sogecollect LCR offers clients a fast, simplified procedure for the collection, subject to final payment, of clean bills of exchange denominated in euro and payable in France.
KEY BENEFITS
Centralized collection : Sogecollect simplifies collection circuits by allowing clients to remit to Société Générale all bills due for collection in France.
Guaranteed collection times
Substantially reduced costs
DESCRIPTION OF THE SERVICE
Simplified collection circuit : Regardless of bank or branch domiciliation, bills are remitted to our international operations center.
Flexibility with regard to types of bills handled : All clean bills of exchange, whether accepted or not, and whether subject to protest or not, are eligible for EASYCOLLECT LCR, provided they are denominated in euro, and contain the standardized bank references ( "RIB" ) of the drawee.
Fast and dependable collection : We guarantee credit, subject to final payment, in a timely fashion and according to contract. Remittances must be received in Paris seven working days before maturity.
Reduced costs : Costs are substantially lower since a fixed commission is charged and is based on a specific scale.
Reporting : The credit advice (subject to final payment) is automatically provided on the day following maturity via SWIFT MT450 with appropriate references. The debit advice (remittances fee, unpaid items fee) is provided via an MT900 the day following the posting of the entry on your account. Clients are automatically advised of unpaid items via an MT456.
Sogecash Net International Service :Sogecash Net International is a range of SOCIÉTÉ GÉNÉRALE cash management services available via the Internet which permits the Client to initiate banking transactions.Sogecash Net International service enables the Client to create a file in compliance with the CFONB standards (French format standards).This service is available in 4 languages (English, Spanish, French and German). It offers many functionalities as the possibility to delegate its use.
The Client undertakes to sign a specific Sogecash Net International agreement. This agreement forms an integral part of the Easycollect agreement.
